US housing bubble expected to spread
Tuesday, July 19, 2005
900,000 Condominiums sold over the past year! I wonder if this has anything to due with the astronomical price of housing, low interest rates, and creative financing such as 'interest only' loans?
"At present, values are racing away in the northeast, California and Hawaii, which were the major hotspots in the 1980s housing boom. In some parts prices have doubled in the last five years, compared to an average 50 per cent increase for the US as a whole. There have also been strong gains in Nevada, Maryland, Florida and Virginia."
Financial Times
posted by author @ 8:47 PM,
